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The reason you may want to hold a second passport could include your need to travel to more countries without having to apply for a VISA. It is easier to diversify your asset and, in some cases, reduce your US taxes when income is generated outside of the US and is NOT distributed back to you in the US.
Right now, there are approximately 90+ countries around the world, with 70% being EU member states who have residence and citizenship by investment programs. The reason small countries court wealthy Americans is some American’s wealth is vast. When they make a $50 million or 100 million dollar deposit for investment, the small countries try to provide protection, security, and citizenship. This type of cash drop helps any small country. economy. Startups are big business, no matter which country you’re in.
You can become a citizen in Barbuda or Antigua, starting at USD 100,000. These countries have access to 151 destinations around the world without having to file for a VISA.
You can get a passport from Austria starting with a USD 3.5 million with access to 187 destinations, worldwide. Cyprus is another country with a high number of VISA free travel destinations. Malta requires 1 million EUR or USD 1.1 million with access to 184 destinations.
You see it’s all about the destinations, investments, and return on investments. For instance, a lot of Americans have dual citizenship with the Bahamas with 118 VISA free destinations. You can get benefits from St. Kitts starting at USD 150,000 and St. Lucia for around USD 100,000.
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